Zhongtong Maintains Fast Growing Momentum in 2016
2016-06-16 Source：www.chinabuses.org
www.chinabuses.org: On June 14, Zhongtong Bus (000957, SZ) registered a closing quotation for its stocks at 35.18 RMB. Its total market value reached 10.4 billion RMB. For two consecutive days, the company’s market value passed the threshold of 10 billion RMB. At 11:30 am on June 15, Zhongtong’s stock jumped to 38.7 RMB and its total market value soared to 11.4 billion RMB.
In just two years, Zhongtong’s stock increased from 12.35 RMB to 38.7 RMB, registering a jaw-dropping growth rate of 213%.
As a listed company, Zhongtong must seek a balanced growth between its business on the capital market and on the commercial vehicle market. In 2014, due to its disposal of assets, Zhongtong saw a big jump in its earnings. In 2015, the company realized an output value of 8.3 billion RMB, up by 97% year on year. In the same year, its net profits went up by 42.8%. In the first quarter of 2016, the bus maker’s net profits skyrocketed by 14 times.
According to its business report in the financial year 2015, Zhongtong’s net profits stood at 399 million RMB. After deducting its non-occurring gains and losses, its net profits still jumped by 421%. In the same year, the sales of its new energy buses accounted for 60%, 47 percentage points higher than that in the previous year. Also its integrated gross profit margin rose from 15.15% to 19.8%.
In 2015, Zhongtong sold 17,545 units buses, up by 36.8% year on year, ranking the third in China’s bus industry. In the same year, its new energy buses sold 10,498 units, accounting for 60% of its overall sales. In 2016, the bus maker continued its fast growing momentum. So far, the company’s sales volume of large- and medium-sized buses measuring over six meters in length reached 7,000 units. Thus, it edged its way to the second place in China’s bus industry. In addition, the company managed to sell over 5,200 units new energy buses, holding 20% market share and ranking No.1 in China’s new energy market.
Now, the bus maker is set to further strengthen its position in both domestic and international markets.
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